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You are describing every pension system in the world.
by heraldgeezer 7mo ago
You are describing every pension system in the world.
- tossandthrow 7mo agoWell, he explains all deferred spend. Deferred spending is quite unnatural. That I can work 1 hour today and buy youghurt in 2 years is an artifact of our system. But this also relies on someone making that youghurt in 2 years from now. It is that key dogma that will likely be under pressure for future pensioners.
- allendoerfer 7mo agoChatGPT thinks, that in the US social security makes up about 30-40% of the retirement income of a typical American, while the German system makes up about 80-85% of a retired German. Home ownership rate in Germany is also way lower. Germany is an outlier in that there is no capital backing for that generation whatsover. The problem has been known for 30 years, they just chose to ignore it.